Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

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Hmm... From what I know scaling bitcoin on the number of visa tx for example would need blocks of 80GB.
If you do it simply by rising block size.

I'll never be as smart as Einstein, so why bother going to school (or as Patient_Bear says, nirvana fallacy)...

Quote from: Ibian on March 03, 2016, 01:38:15 PM

Can someone explain why people are complaining about the ability to send any amount of money anywhere in the world in about an hour without having to ask a middleman for permission?

Because it used to be about ten minutes a few days ago, and going to be fucking impossible soon if this shit keeps up. Also middlemen. You'll need those too

Gonna have to explain that one a bit clearer.

Because transactions *did not* take "about an hour" a few weeks ago.
Because if you wish to use Bitcoin in the future, you will need to use "scaling solutions" like Lightning Network, which is basically*prepaid gift card, for every entity you wish to do business with, which uses Bitcoin as a settlement layer* (i think they call it "open a payment channel").
Would be glad to be more explicit, just ask specific questions.

But that's the techy side of it. The meat of it is that people are catching on to the fact that Bitcoin, like just about everything else, DEPENDS ON OUR TRUST IN PEOPLE. People at the top, people who are ambitious, egomanaical, corruptible. People who, without a clearly defined set of rules (laws) and an enforcement framework (jackbooted thugs) turn into spoiled children and can't be trusted.
People who would for stroking/paltry sums, will sell you out to the highest bidder.
Because rational self-interest.

What do you mean by a transaction? It's still instant, and confirms are as they always have been for me.

Let me freshen your memory.

Quote from: Ibian on March 03, 2016, 01:38:15 PM

Can someone explain why people are complaining about the ability to send any amount of money anywhere in the world in about an hour without having to ask a middleman for permission?

Your transactions always took "about an hour," or, as you put it, "still instant."
Guess our differences are rooted in semantics. To you, "instant" = "about an hour."
And while "instant" used to mean "about 10 minutes," instant = instant, so nothing has changed.

No. Instant means instant. I pay my VPN in bitcoin and I don't have to wait an hour, or a minute, or more than two seconds for the purchase to punch through.

The confirmations are what you are talking about. And they are as fast for me as they ever were. With the standard 0.0001 fee.